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6429 Winding Ridge Way Las Vegas, NV 89156

4 Beds 3 Baths 1,866 sqft Built 1994

$320,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $171.49
  • 2 Days on Market
  • MLS # : 2278464
  • Updated Date : 03/14/2021 at 02:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,866 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

This 1800+ sf 2 story 4 bed home sits on a 5200 Sf parcel. Enter into airy open soaring vaulted ceilings. The winding stairwell takes you up to the large well lit owners suite with unique raised ceilings, windows across the back wall, and pots shelves, all attached to the owner bath with modernized shower and H&H sinks. 3 bedrooms upstairs have high open ceiling heights and windows that create a nice open feeling living environment, bedroom four downstairs is great for a when guests come or an office / work space. The downstairs surrounds the kitchen, perfect for family and friends or intimate gatherings. Formal dining attached to the formal living room, perfect for dinner and relaxing. Family room with the gas fireplace for cozy nights. Pool parties & bar b Ques under the covered patio. Enjoy your Oasis with spa and waterfall under pleasing mature, manicured palms, flowers landscapes. This home needs is a Buyer ready to put their personal touch on this gem. Excellent family home!

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MARKET HIGHLIGHTS

  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Panorama

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Panorama

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Helen Herr Elementary School Primary Regular 725 37 1
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Helen Herr Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 37
1
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,111
Property Tax -$197
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$10

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$17,569

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,480

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,581

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4804$1,4955$1,650
$1,650
RENT COMPS ANALYSIS
  • 6429 Winding Ridge Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.79
    •  
  • 6045 Stone Hollow Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.82
    •  
  • 6448 Elwood Mead Avenue #103 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 6359 Elwood Mead Avenue #103 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2010
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.89
    •  
  • 6533 Elk Creek Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 1996
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
PROPERTY LISTING DETAILS
Paul S Caruso
1.702.285.7659
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278464
Last Updated: 03/14/2021
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